CHARLOTTE, N.C. --
Banks like Wells Fargo and Bank of America announced new loan structures that will allow a buyer to purchase a home with as little as 5 percent down.
The announcement came on the same day new housing numbers were released that showed the smallest gains in home prices since January; in Charlotte, house prices only rose 7.1 percent.
Experts say the combination of new loan structures and stabilizing home prices are good for buyers and sellers alike.
"We are still seeing price increases but not increasing so high as to take away that buyers' buying power," said home builder Bill Saint.
A former CPA, Saint builds custom homes and works with consumers on both sides of the buying and selling processes.
Saint said while the new loan terms will be attractive to buyers, they still must qualify under stringent restrictions that are far different than those before the housing market collapsed.
"The banks are doing the due diligence on that individual...if you've gone through the re-fi process or a new loan process, you realize it has to be a real loan," Saint said.
Experts predict the rise in housing prices will continue to decline when the October numbers are released.